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Advertising investment in the UK brewing industry: an empirical analysis

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<mark>Journal publication date</mark>1/03/1997
<mark>Journal</mark>Economic Issues
Issue number1
Volume2
Number of pages12
Pages (from-to)55-66
Publication statusPublished
Original languageEnglish

Abstract

This article analyses the significance of long-run advertising investment in the UK brewing industry. The Johansen multivariate cointegration procedure is utilised to estimate a model of the demand for beer to compare the effectiveness of `main-media' and `below the line' advertising. An error correction model is estimated to depict the short-run movements to equilibrium. The empirical analysis shows that both forms of advertising have no significant impact on the total barrelage sales in the UK. One reason for this may be that advertising influences the distribution of barrelage sales between brewers rather than the total quantity of beer sold.